Communicators

Highlights:

-            Two reconnaissance trips conducted on most tenements

-            Rock chips taken from several locations

-            Malachite observed in gossan within the Hillside Group

-            Focus on Hillside gold, copper and base metals potential

-            Third royalty payment received from Deception Hill asset

Fe Limited (ASX: FEL) (FEL or the Company), as previously announced, recently acquired the Pippingarra Lithium Project and the Marble Bar Lithium Project from Mercury Resources Group Pty Ltd (Mercury).  The Company also exercised its option to earn into Macarthur Minerals Lithium and Gold Project via its agreement with Macarthur Minerals Limited (Macarthur) (TSX-V:MMS).

Via the transactions with Mercury and Macarthur, FEL has access to 23 tenements in the Pilbara WA ranging from south of Nullagine to Pippingarra near Port Hedland. The tenure is prospective for lithium, gold, copper, base metals and iron ore with many known deposits within and around the tenure and the eastern Pilbara in general.

After desktop reviews of regional and local geology and exploration history in the relevant areas, geologists from FEL recently completed two field reconnaissance trips to assess each of the tenements for access and to identify target rocks for further exploration.

The tenements are widespread with most access via station tracks or little used and unmaintained historic exploration tracks. Work will be required to enable access for exploration drilling and camp establishment where necessary although any existing infrastructure will be utilised where possible.

Areas of prospectivity were identified in most of the tenements and rock chips were taken for initial tests (results pending). Refer location map, photos and descriptions in the figures below.

Location Map – FEL Pilbara tenure 

Figures 1, 2 and 3 show intensely oxidised quartz veins found within the Hillside greenstones. There were many prospective quartz veins identified during the site visits and follow up work will begin with intensive aerial and ground mapping to identify extents and continuity of potentially mineralised quartz features as well as major structural offsets as focal points for mineralisation. The copper gossan found in outcrop (figure 4) will also be mapped ahead of planning drilling to test these features at depth.

Figure 1

Figure 2

Hillside Project

Figure 3

Figure 4

Figure 5

Figure 6

Figures 5, 6 show conglomerates found at the base of the Mt Roe Basalt, known for conglomerate gold found elsewhere in the Pilbara, in the Panorama tenement group;

Figure 7

Figure 8

Figure 9

Figures 7, 8 and 9 show brecciated rocks associated with major faulting at the margins of the Mt Roe basalt. Samples in figures 7 and 9 contained visual sulphides.

Figure 10 shows altered ultramafic rocks with intensive quartz veining found in Tamborah North directly above recent nugget discoveries by local prospectors.

Figure 10

Figure 11 shows a lepidolite rich (lithium bearing mica) pegmatite from one of several dykes found in Tamborah North.

Figure 11

Figure 12 and 13 show an iron ore sample and a conglomerate found adjacent to one another. The iron ore sample is from a direct extension to the Atlas Abydos Leighton pit found approximately 300m west. The conglomerate was sampled as a possible source of alluvial gold occurrences known in the area.

Figure 12      

Figure 13

A review of the tenure based on this initial work and the results (once received) will be undertaken and follow up exploration programs designed in a systematic fashion to best service the vast areas of tenure and prospects within.

Iron Ore Royalty

The Company is pleased to advise it has received confirmation that it will receive a royalty payment of $241,498 in relation to test mining conducted by Mineral Resources Ltd (ASX: MIN) at its Deception iron ore mine during the June 2019 quarter.  This represents the third royalty received in respect of this asset totaling $495,205.

FEL holds a 1.5% Dry Metric Tonne, FOB Royalty (Evanston Iron Ore Royalty) in respect to M77/1259 that is located approximately 20kms north of the Windarling mine. The Evanston Iron Ore Royalty area is located in the Southern Yilgarn Iron Province of Western Australia.

Yours faithfully

FE LIMITED

Tony Sage

Non-Executive Chairman

END

Australian Securities Exchange Code: FEL

Ordinary Shares:

457,034,953

Unlisted Options:

20,000,000 at $0.045 Exp 31/05/2020

5,625,000 at $0.03 Exp 13/03/2021

3,125,000 at $0.03 Exp 12/04/2021

1,250,000 at $0.03 Exp 8/05/2021

Board of Directors:

Tony Sage

Non-Executive Chairman

Kenneth Keogh

Non-Executive Director

Nicholas Sage

Non-Executive Director

Contact:

www.felimited.com.au

32 Harrogate St, West Leederville

Western Australia 6007 Australia

Telephone  +61 8 6181 9793

Email    ir@felimited.com.au

Fe Limited is an Australian domiciled mineral resources exploration and development company.

Fe Limited

ABN: 31 112 731 638

COMPETENT PERSON

The information in this presentation that relates to Exploration Results is based on information compiled by Mr Olaf Frederickson. Mr Frederickson is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”). Mr Frederickson is a consultant to Cape Lambert Resources and consents to the inclusion in the report of the Exploration Results in the form and context in which they appear.